Brokerages Set Ategrity Specialty (NYSE:ASIC) PT at $26.50

Ategrity Specialty (NYSE:ASIC) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $28.00.

Several analysts have recently commented on ASIC shares. Wells Fargo & Company raised their price objective on shares of Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen upgraded Ategrity Specialty from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Zacks Research lowered shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Finally, Barclays upped their price target on shares of Ategrity Specialty from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th.

Ategrity Specialty Trading Up 0.9%

NYSE ASIC traded up $0.22 during mid-day trading on Friday, reaching $24.22. The stock had a trading volume of 136,652 shares, compared to its average volume of 70,319. Ategrity Specialty has a 1 year low of $16.35 and a 1 year high of $25.84. The business’s fifty day moving average price is $21.26. The firm has a market cap of $1.16 billion and a PE ratio of 13.02.

Ategrity Specialty (NYSE:ASIC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. The company had revenue of $128.96 million for the quarter. Ategrity Specialty had a net margin of 19.75% and a return on equity of 15.29%. On average, research analysts expect that Ategrity Specialty will post 1.98 earnings per share for the current year.

Institutional Trading of Ategrity Specialty

Several institutional investors and hedge funds have recently made changes to their positions in ASIC. New York State Common Retirement Fund purchased a new stake in Ategrity Specialty during the fourth quarter valued at approximately $27,000. Strs Ohio increased its holdings in shares of Ategrity Specialty by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ategrity Specialty in the fourth quarter valued at about $41,000. State of Wyoming raised its stake in shares of Ategrity Specialty by 1,663.6% in the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after purchasing an additional 2,329 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Ategrity Specialty in the fourth quarter worth about $76,000.

About Ategrity Specialty

We are a profitable and growing specialty insurance company dedicated to providing excess and surplus (“E&S”) products to small to medium-sized businesses (“SMBs”) across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The SMB market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value.